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Govt woos internal, foreign investors
2008-03-10 09:09:22
By Lusekelo Philemon
Deputy Minister for Industry, Trade and Marketing Dr. Cyril Chami has called on members of the East Africa Association and other viable investors to come and invest in the country, saying a favourable investment environment had been created for them.
Speaking in Dar es Salaam at a dinner prepared for the East Africa Association (EAA) members at the weekend, Dr. Chami advised investors to take advantage of the investment potential the government has created to establish various investment projects as well as trading activities.
Through Tanzania`s investment agency (TIC), the minister said the government would ensure that the relationship with EAA is consolidated, hence encouraged their members and other investors from different countries to invest in Tanzania.
``I therefore thank EAA for selecting Tanzania for the trade and investments mission,`` he said, adding that the trade mission provides a platform where Tanzania can promote investment opportunities available in the country for increased private sector linkages.
``It is my wish and expectation that the trade and investment mission will lead to more concrete trade and investment links later on. The Eastern African business forum is a credible vehicle to take us there,`` Dr. Chami explained.
He therefore emphasized on the need for forming a sound business partnership among the business people, for them to ably share experiences and business skills.
According to him, Tanzania is plentifully endowed with natural resources, most of which are still under-exploited and some are yet to be touched.
Tanzania faces a number of constraints impeding her from utilizing these resources, which according to Dr. Chami, the challenges has made Tanzania remain predominantly a producer of primary products, exporting raw agricultural products, mineral and other natural resources.
``Production and productivity are extremely low. So, if we can improve productivity, there is a possibility to improve country`s economy,`` he noted.
He said there must be strategic plans to ensure that there are availability of capital, technology transfer and skills development to facilitate gainful exploitation of Tanzania`s resources and potentials for mutual benefits.
He said Tanzania has a lot of huge potentials in agriculture, mining, tourism, leasure, transportation, ICT, manufacturing and other services.
``Attractive investment policies with competitive fiscal incentives are among the conducive environment towards viable investments,`` he added.
Earlier, TIC executive director Emmanuel Ole Naiko, hailed the contribution made by the Industries, Trade and Marketing ministry for its enormous role in promoting the country’s trade and investments.
He therefore called upon viable investors to come and invest in Tanzania because it is the best investment destination.
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